Browse Forums General Discussion 1 Sep 24, 2007 8:32 pm Hi,
We live in Melbourne and are wanting to build a spec home. Could someone please tell me, and I have found it varies considerably from builder to builder, what are the payment processes, and what we receive for the processes, in term of getting 'started' with contracts. ie; when do we pay initial payment, what do we then get at each stage of payement? Some builders seem to want money each time they pick up a pen! I hope I make sense.....I'm just very confused. Imagine if I have to pick a tile! Re: Ok, Building Contracts with Spec Builders & time lin 2Sep 24, 2007 8:42 pm basaad Hi, We live in Melbourne and are wanting to build a spec home. Could someone please tell me, and I have found it varies considerably from builder to builder, what are the payment processes, and what we receive for the processes, in term of getting 'started' with contracts. ie; when do we pay initial payment, what do we then get at each stage of payement? Some builders seem to want money each time they pick up a pen! I hope I make sense.....I'm just very confused. Imagine if I have to pick a tile! LOL you sound like the rest of us in here .... confused!! Most contracts are the standard HIA agreements and most spec home / project home builders use the standard payment terms. Dont be confused ... be informed. Ask away with the questions and we will all do our best to answer them for you!! Matt I have reverted to username - mattwalker Carlisle Homes - Grande 43 My building experience is here: http://www.ourgrandeplan.blogspot.com Re: Ok, Building Contracts with Spec Builders & time lines. 3Sep 24, 2007 9:03 pm Hi basaad, we are building with the big H, and we paid an initial $550 to hold the pricing for a period of 3 months. This covers the soil test and colour selection and title search.
Then once all that is done, a tender document is prepared for you with your upgrades and it also incorporates your site costs for your specific block etc. If you choose to accept the tender you pay another $1650. There is a 3% payment due at the contract signing stage: They prepare contract documentation and final working drawings. In about 3-4 weeks later you need to attend a contract meeting to review your contract and approve it (unless something is wrong with it of course). A 10% payment is due at base stage: The site is prepared to be at the correct level, the pegs are put into the ground, the pipes are laid and a temporary meter box is installed. The Slab is prepared and there is an inspection done prior to the slab being poured. A 15% payment due at Frame stage: Frame is set out, but & reected then inspected. Then the fascia, gutters and roof flashings are installed. The external doors are fitted with locks. A 35% payment is due at Lock Up stage: Roof tiles are started, plumbing lines installed and brickwork commences. Shower bases / baths installed & electrical's begin. The house is at lock up stage when the bricks & exterior wall panelling are complete. A 25% payment is due at Fixing Stage: Plasterwork, cupboards, doors, architraves and other internal fixtures are installed. Painting, tiling and shower screens / mirrors installed. Door handles, taps, pwr points, heating. Site is cleaned and driveway/paths poured if included. A final 12% is due at settlement where the house is handed over to you. Different builder allocate different build time lines for their work, some as long as a year, so ask beforehand. Hope this helps. I'm not sure about other builders though.... Good Luck. Re: Ok, Building Contracts with Spec Builders & time lines. 4Sep 25, 2007 8:12 am Thanks for your reply, guys.
Another quick question: Would it be better to build with a builder who is also a member of the MBA? Or does it not make a difference. What are the pros and cons of this? I thought all builders had to belong to the HIA, but the MBA was optional. Re: Ok, Building Contracts with Spec Builders & time lines. 5Oct 15, 2007 8:24 am buides dont have to be hia or mba members but they do need to be licenced Da Vinci Outdoor Living Architectural landscaping http://www.davincioutdoor.com Had a meeting on site to discuss tiles last week and got a good look inside. All coming together! Tilers and painters have been hard at work and the finish is looking… 29 126426 granny can live in the garage. just give her a few extra blankets rofl 8 27897 Ah ok, no worries, well the tiles are going in a few days later, so i guess its pretty much stone/tiling done within a few days of each other anyway. Appreciate the help,… 2 11273 |